Competitive pricing and adequate profitability is the main issue facing the global insurance industry, according to a survey of participants at an International Insurance Society meeting in Taiwan.

Asked the top issue facing the insurance industry, 44% of insurance professionals at the meeting selected “competitive price/adequate profitability” – as they had in 2006 (43%).

Last year’s top issue, new market opportunities, ranked just third this year at 16%, with organic growth the second-biggest concern at 18%. In 2005 the top issue was the role of regulation and in 2004 it was taking advantage of new market opportunities.

“The industry returned to performance concerns this year,” society CEO Patrick Kenny said. “But growth, both organic and in new markets, continues to be of keen interest.”